Ryanair raises its growth plans from 100m to 110m

At an investor conference in London today (June 20th) Ryanair, Europe's only ultra low cost carrier (ULCC) will brief analysts and major shareholders on its revised plans in two important matters as follows:

1. In response to increased demand (and lower costs) from both existing and new airport partners across Europe, Ryanair intends to step up its growth rate from 5% to 7% p.a. over the coming years and will therefore target to carry 110m passengers by FY March 2019 instead of the previous 100m target.

2. Ryanair detailed plans to return up to €1bn to shareholders over the next two years with at least €400m in share buybacks to be completed during the current year to FY Mar 2014 and up to a further €600m in either special dividends or share buybacks targeted in FY March 2015 subject to current fuel, yields and profitability trends continuing.

A further investor day is scheduled for New York next Tuesday (25th June) where North American analysts and investors will be briefed on these increased growth and shareholder return plans.

Refer to full documentation in attachments box, located at the top left, below the headline.